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Black Tuesday: Banks on Both Sides of the Atlantic Announce Major Job Cuts

Black Tuesday: Banks on Both Sides of the Atlantic Announce Major Job Cuts. On Tuesday, December 3, Unicredit, Italy’s largest lender, said it planned to cut 8,000 bank jobs as part of a strategic, four-year restructuring plan. The same day, the Bank of Montréal announced the deepest job cuts in the Canadian banking industry in years. It said it would cut 5% of its workforce, or about 2,300 jobs.

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Black Tuesday: Banks on Both Sides of the Atlantic Announce Major Job Cuts
December 5, 2019

Black Tuesday: Banks on Both Sides of the Atlantic Announce Major Job Cuts. On Tuesday, December 3, Unicredit, Italy’s largest lender, said it planned to cut 8,000 bank jobs as…

High Net Worth Investors in the U.S. (and Their Next-Gen) Reach for ESG
December 5, 2019

A report by Cerulli Associates says wealthy American investors, as well as their next-gen successors, are considering ESG investing. High net worth (HNW) investors in the US are increasingly gravitating…

Melvin: Private Equity Firms Struggle to Deploy Capital – Now What?
December 4, 2019

Fundraising by private equity funds will set a record in 2019. As of last month,  PE funds have raised $248 billion of new commitments. There were still two months left…

Melvin: FDIC Quarterly Banking Profile for the Third Quarter
December 3, 2019

The FDIC Quarterly Banking Profile arrived last week. For the first time in several years net income fell. Net Income is the nation’s banks totaled $57.4 billion during the three…

Sovereign Funds Allocate 21% to Alternative Investments – the Highest in Five Years
December 2, 2019

Invesco presented its study of 139 sovereign wealth funds at Investment Magazine’s Fiduciary Investors Symposium. The Invesco Global Sovereign Asset Management Study 2019 shows these investors raised allocations to fixed…

Alternative Investments: Insurance Company CIOs Between a Rock and a Hard Place
November 26, 2019

Natixis Investment Managers commissioned a survey of 200 Chief Investment Officers (CIOs) at insurers in Asia, Europe, and North America. Nearly 75% said that it was essential to include alternative…

Community Banking Recap – November 22, 2019
November 22, 2019

Earnings season is pretty much behind us now, and the Federal Reserve issued its latest minutes. While Wall Street is celebrating the fact that a historically high number of companies…

BB&T and Suntrust Receive Approval for Truist Merger
November 20, 2019

BB&T and Suntrust received approval for their merger of equals by the Federal Reserve System and the Federal Deposit Insurance Corporation.

Is China Winning the Artificial Intelligence Race?
November 13, 2019

The artificial intelligence race draws many comparisons to the moon race between the United States and China. But is that an overreaction, and, if so, who is winning right now?

Review of The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman.
November 9, 2019

Renaissance Technologies and its founders have received a worthy biography. The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution is the latest book by Gregory Zuckerman.